What Could a 'Cliff Dive' Do to the Economy?
Plainly a “cliff dive,” for an extended period of time, would have a devastating effect on our economy. Our friends at Credit Suisse estimate a worst case impact of a -3.8% fiscal drag on nominal GDP growth next year and a best case drag of -0.9 …
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Coburn Breaks GOP Ranks; Geithner Ready to 'Cliff–Dive'
Later Wednesday, Treasury Secretary Timothy Geithner said that the administration was prepared to dive off the “fiscal cliff” if Republicans insist on not raising tax rates on the rich. "Personally, I know we have to raise revenue; I don't really care …
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Expect a Few More Weeks of Cliff Diving
Sick and tired of the fiscal-cliff debate yet? Hope not, because we've got a few more weeks of the proverbial cliff diving before this whole thing is settled. With the GOP's latest counter-proposal this afternoon, the two sides in this budget/tax fight …
Read more on Wall Street Journal (blog)
